Virgin Bosses Cut Jobs and Collect Bonuses

Virgin Media, the UK-based cable and broadband company, has angered its employees and unions by announcing plans to award bonuses to its executives only a few months after laying off over 2,000 employees. Virgin Media is heavily in debt and the company lossed $73 million in the past quarter.

Virgin Media’s CEO, Neil Berkett, said that “Clearly we are watching the pennies and keeping the costs low.” Apparently this doesn’t apply to pennies that are rolling into their own bank accounts.